COPT Defense Properties (NYSE:CDP) Stock Price Up 1.2% – Time to Buy?

COPT Defense Properties (NYSE:CDP) was up 1.2% during mid-day trading on Monday . The company traded as high as $33.33 and last traded at $33.00. Approximately 168,724 shares traded hands during trading, a decline of 81% from the average daily volume of 879,785 shares. The stock had previously closed at $32.62.

Wall Street Analysts Forecast Growth

CDP has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. lifted their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. BTIG Research upped their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Evercore ISI raised their price objective on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial boosted their target price on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

COPT Defense Properties Stock Performance

The company has a market capitalization of $3.66 billion, a PE ratio of 26.63 and a beta of 0.98. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The business has a 50 day simple moving average of $31.87 and a 200 day simple moving average of $28.96.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The company had revenue of $189.23 million for the quarter, compared to analysts’ expectations of $167.37 million. During the same period last year, the firm earned $0.60 earnings per share. COPT Defense Properties’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts predict that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.63%. COPT Defense Properties’s payout ratio is 96.72%.

Institutional Trading of COPT Defense Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in COPT Defense Properties by 1.4% in the 3rd quarter. CWM LLC now owns 35,098 shares of the company’s stock worth $1,065,000 after purchasing an additional 475 shares in the last quarter. Fifth Third Bancorp increased its holdings in COPT Defense Properties by 1.0% in the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after buying an additional 574 shares in the last quarter. Arizona State Retirement System raised its position in shares of COPT Defense Properties by 1.9% in the second quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after acquiring an additional 578 shares during the period. Carmel Capital Partners LLC boosted its stake in shares of COPT Defense Properties by 3.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock worth $525,000 after acquiring an additional 584 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of COPT Defense Properties by 3.4% during the 3rd quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock valued at $644,000 after acquiring an additional 701 shares during the period.

About COPT Defense Properties

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (USG) defense installations and missions (referred to as its Defense/IT Portfolio). The Company's tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements.